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innocent purchaser

Defined in 3 dictionaries — Case Law, Ballentine's (1916), Black's (1910)

Definitions from Case Law

From 77 U.S. 676 - Marsh v. Fulton County · 1870Most cited · 220 citing opinions

The authority to contract must exist before any protection as an innocent purchaser can be claimed by the holder. This is the law even as respects commercial paper, alleged to have been issued under a delegated authority: the person dealing with the agent, knowing that he acts only by virtue of a delegated power, must, at his peril, see that the paper on which he relies comes within the power under which the agent acts. And this applies to every person who takes the paper afterwards; for it is to be kept in mind that the protection which commercial usage throws around negotiable paper cannot be used to establish the authority by which it was originally issued.

Ballentine's Law Dictionary

James A. Ballentine · 1916

One who by an honest contract or agreement purchases property or acquires an interest therein without knowledge or means of knowledge sufficient to charge him in law with knowledge of any infirmity or flaw in the title of the seller. See 2 N. E. (111.) 512.

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

See INNOCENT.

Defined under Purchaser in Black's Law Dictionary.